Korea Investment CORP Has $1.99 Million Holdings in Chord Energy Co. (NASDAQ:CHRD)

Korea Investment CORP lowered its stake in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 18.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,022 shares of the company's stock after selling 3,800 shares during the quarter. Korea Investment CORP's holdings in Chord Energy were worth $1,990,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CHRD. Pacer Advisors Inc. grew its holdings in Chord Energy by 50.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company's stock worth $218,892,000 after buying an additional 627,122 shares in the last quarter. Victory Capital Management Inc. boosted its position in Chord Energy by 27.6% during the 4th quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company's stock worth $334,912,000 after acquiring an additional 619,021 shares during the period. Point72 Asset Management L.P. grew its stake in shares of Chord Energy by 143.8% in the third quarter. Point72 Asset Management L.P. now owns 880,787 shares of the company's stock worth $114,705,000 after purchasing an additional 519,547 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Chord Energy during the fourth quarter valued at $29,984,000. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Chord Energy by 30.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 744,309 shares of the company's stock valued at $88,459,000 after purchasing an additional 172,196 shares in the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.

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Chord Energy Stock Down 11.7 %

Shares of NASDAQ:CHRD traded down $11.66 on Friday, reaching $87.82. The company had a trading volume of 2,141,111 shares, compared to its average volume of 950,666. The stock has a market capitalization of $5.22 billion, a P/E ratio of 4.52, a P/E/G ratio of 5.83 and a beta of 0.96. The stock has a 50-day moving average price of $109.83 and a 200 day moving average price of $120.11. Chord Energy Co. has a twelve month low of $86.70 and a twelve month high of $190.23. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10.

Chord Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th were issued a dividend of $1.30 per share. This is an increase from Chord Energy's previous quarterly dividend of $1.25. This represents a $5.20 annualized dividend and a dividend yield of 5.92%. The ex-dividend date was Tuesday, March 11th. Chord Energy's dividend payout ratio is currently 32.62%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CHRD shares. Bank of America dropped their target price on Chord Energy from $138.00 to $125.00 and set a "neutral" rating on the stock in a report on Tuesday, April 1st. Morgan Stanley set a $139.00 price objective on Chord Energy and gave the company a "cautious" rating in a report on Wednesday, March 26th. Mizuho lowered their target price on Chord Energy from $192.00 to $178.00 and set an "outperform" rating on the stock in a report on Monday, December 16th. Wells Fargo & Company cut their price target on shares of Chord Energy from $175.00 to $166.00 and set an "overweight" rating for the company in a report on Monday, March 24th. Finally, Wolfe Research raised shares of Chord Energy from a "peer perform" rating to an "outperform" rating and set a $155.00 price objective on the stock in a research note on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $161.46.

Chord Energy Profile

Chord Energy Corporation operates as an independent exploration and production company in the United States. It acquires, explores, develops, and produces crude oil, natural gas, and natural gas liquids in the Williston Basin. The company sells its products to refiners, marketers, and other purchasers that have access to nearby pipeline and rail facilities.